Hexagon Acquires Allen Precision Equipment

Hexagon, the parent company of Leica Geosystems (Switzerland), has entered into an agreement to acquire all outstanding shares of the American company Allen Precision Equipment, Inc.

Allen Precision is primarily a catalogue company that represents several major suppliers and sells surveying equipment and related supplies to engineers, surveyors, contractors and government agencies.

Allen Precision had a turnover of over US$24 million in 2006 and has shown consistent growth exceeding the USA market growth for several years. The company is based in Duluth, Georgia and employs 41 people.

“The acquisition of Allen Precision is an important step in the overall NAFTA growth strategy in the core surveying and construction markets. Allen Precisions business model complements our current business model of local direct and distributor sales for our customers”, says Ola Rollén, CEO and President of Hexagon AB.

Allen Precision will be consolidated as of 1st May 2007 and will immediately contribute to Hexagon’s earnings.

“Allen Precision will operate as a stand-alone company and will continue to operate as a full-service, multi-brand catalogue company. We expect that Allen Precision will continue to be the premier catalogue supplier to NAFTA customers in these key market segments”, says Ola Rollén.